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Reference News Network reported on March 1 that Hong Kong media said that after the British referendum to leave the European Union, British bankers, brokers and government staff may be working overtime in an effort to judge or guess the impact of the rapidly falling pound on the British. What impact will the already strained economy have? But after a busy Golden Week, high-end shop owners in central London are raising a glass to celebrate. According to exclusive news obtained by Asia Times Online, Chinese tourists’ spending in London, the British capital, increased by a staggering % during this Golden Week.
According to a report on Hong Kong's Asia Times Online website on March 1, on a day when the pound against the dollar fell to its lowest level since 2019, these sales figures include Chinese tourists visiting London's West End, London's core shopping district. &&’s retail consumption. The cut-off time for these data is year month day, which is the official end of China's Golden Week holiday. During this period, Chinese tourists' retail spending in London's West End increased by 10% year-on-year, and the average transaction value also increased by 1%, now reaching a staggering £100,000.
According to reports, as early as the year, some people were worried about the sluggish consumption of Chinese tourists. Many retail analysts believe this is due to China's anti-corruption campaign and the overall slowdown in the Chinese economy. But following strong retail sales over the summer, these latest figures dispel concerns and put London's retail sector in a resolutely bullish mood.
Jess Tyrrell, CEO of New West End Department Store, said: &The West End’s sales in the month were outstanding, with total sales reaching 100 million pounds. This year’s Golden Week is completely different from last year. After the Chinese stock market plummeted, spending by Chinese tourists during the National Day Golden Week last year dropped by 1% compared with the same period last year. &r
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